18 Feb The Study Of Consumer Behavior
The study of consumer behavior attempts to find the answer for the following questions:
- Who are the customers?
- What do they buy?
- Where do they buy?
- How do they buy?
- Why do they buy?
- When do they buy?
For the marketer that person is important who makes the buying decision, not the one who actually makes the purchase or uses the product. Understanding this person helps marketers to develop marketing mixes and predict how targeted customers will respond to them.
Importance of Studying Consumer Behavior
As a matter of fact, customer is the pivot around which the whole industrial system of now days revolves. The economists have called the customer’ a ‘king. He is just like a voter in democracy. His selection of goods or services determines the fate of the products/ services. So, in order to attract him more and more, the marketing personnel should know their customers well so that they could treat them in the way they like to be treated, present them the goods in the way; they will appreciate and close a sale in such a way that consumer satisfaction is created.
The study of consumer behavior is very useful in determining the form, style, packing, brand, trademark etc. of the product. The whole aspect of buying behaviour determines the durability, price policy and utility aspect in goods. When does aspect of purchasing also determine the quality, size and price policy of the products? How does aspect determine the nature of customer services and style of packing, etc. Where does aspect determine the place relating to physical distribution, channels or distribution policies and so on. Hence, the study of consumer behavior is useful, rather essential in formulating various marketing policies.
Psychology of Consumers
For making a successful marketing program it is necessary for a marketer to study the consumer behavior so that he would know the attitudes, intentions and desires of the customers. Customer psychology has the following components:
1. Knowledge: Knowledge is one type of information and on the basis of knowledge, the psychology of customer develops. For giving knowledge of the product to the customers, promotion plays an important role.
2. Attitude: Attitude is a state of mind or feeling. It induces a predisposition to behave in some way. Attitudes are very important in explaining buyer behavior.
3. Intention: Intention means desire to do something. After knowing the intention of customers, the marketing program can be formulated and can be co-ordinate with the production.
4. Motive: It is the integral state which directs the behavior of a person. Some people call it urge. Because of this urge, the person’s behavior is directed towards a particular cause.
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